The Jakarta Composite Index (IHSG) climbed sharply on Friday, closing at a fresh high of 6,401, according to reports from detikFinance. The benchmark index rallied on the back of positive investor reaction to the government's fiscal targets, as detailed by ANTARA News.
The surge followed a speech by President Prabowo, which Kompas.com reported helped strengthen both the Indonesian rupiah and the stock market. investor.id noted the sudden, drastic rise in the IHSG and pointed to specific triggers behind the move, though the outlet did not specify the exact catalysts in the available summary.
Market analysts at Bareksa.com suggested the index could enter a consolidation phase after the sharp gains, while issuing stock recommendations for ISAT and PNLF. The coordinated strength in both the currency and equities suggests broad-based optimism among investors, according to the multiple reports.
The rally marks a notable turnaround for Indonesian markets, which had been under pressure in recent sessions. The combination of policy signals from the president and fiscal targets appears to have reassured traders, leading to the sharp upward movement observed on Friday.
Observers will now watch whether the IHSG can sustain its momentum above the 6,400 level or if profit-taking triggers the consolidation that analysts at Bareksa.com anticipate.
